RE:RE:RE:RE:RE:RE:RE:Marathon They were not in great financial situation at the time of the buyout because of cost overruns. But I suggest they could have continued on with significant dilution, or more loans. The shareprice of junior companies building mines was at a crazy low when they were taken out by cbx. So to do equity financing at the price they would have to was hard to swallow. Moz instead chose to be taken out by a mid tier producer. At a low price, but higher than the at that time shareprice. The last financials they reported on Aug 10 2023 would suggest that they were not out of working capital when the takeover was announced.
At the time of the takeover, they had close to $400 million invested in building the mine. Plus the mine half built and all the permits. Their debt was much less than that.
They took what they thought was a good deal, and it turned out they were right. As cxb price has more than double since then. And they were paid in cxb shares.
What they got for their gold in the ground, after subtracting the surplus between expenses in building the mine, and debt, is much less than $100 an ounce. For an advanced stage project.
I don't know. you tell me.
https://www.stockwatch.com/News/Sedardoc/5439712.pdf